GRAPHICS PRO

November '20

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G R A P H I C S - P R O. C O M 2 0 2 0 L A S E R E N G R A V I N G R E P O R T 8 3 A s the graphics industry continues to change through the natural flow of events, it's no secret that the COVID-19 pandemic has also had some extenuating effects this year, forcing the industry to pivot. While the laser engraving segment remains strong, there are some areas of business where these ef- fects have been felt. But by delving into the data, it's clear that there are opportunities to not only expand your laser engraving business, but grow it. Following is this year's survey results from the laser engraving market. You will also find some analysis from previous years. We hope these comparative findings allow you to confidently tackle the current laser engraving market and help you increase your sales as a result. This survey was conducted through electronic mail via Sur- veyMonkey.com and complied with all CAN-SPAM act laws and NBM's privacy policy, as found here: nbm.com/privacy-statement. Respondents were selected from the GRAPHICS PRO subscriber database and all survey recipients were provided the same version of the survey, which was distributed in August 2020. Some survey to- tals equal more than 100% because readers checked all the categories that apply. Strong and Focused Top 3 Greatest Challenges in Laser Engraving in 2020: Top 5 Laser Engraved Products by Revenue in 2020: REVENUES AND OUTLOOK 63% of 2020 survey respondents reported total annual rev- enues related to laser engraving of greater than $10,000. Looking at past years' data, the most significant change in total annual revenue was seen in those reporting over $100,000 (a de- crease of about 10%); however, those reporting $25-$100K has remained steady at an average of 25%. Only 22% of respondents in this year's survey reported that sales in the last 12 months have increased. Not surprisingly, 39% reported a decrease, the first time since 2016 that number has been above 10%, which is likely the result of the pandemic. However, 67% of respondents report a positive general out- look for their laser engraving business despite the current eco- nomic challenges.

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